NEW YORK, Dec 20: Cotton futures settled higher on Friday in another choppy session, and erratic trading is likely to persist through the end of the year, brokers said.

The March cotton contract eased 0.05 cent to settle at 45.23 cents per lb, dealing from 44.21 to 45.50 cents. March cotton volume reached a light 3,233 lots at 2:28 p.m. EST (1928 GMT).

The May cotton contract rose 0.01 cent to close at 45.88 cents.

Mike Stevens, an analyst for brokers SFS Futures in Louisiana, said cotton lost ground due to the strong dollar, recovered and then slipped late. The result was a mixed close, he added.

Analysts said cotton futures are not trading the market’s fundamentals and meekly followed the lead of the dollar and other commodities for most of the session. While we may be coming under pressure from the dollar and those outside markets, you have to remember that volume was very light, a dealer said.

Brokerage Flanagan Trading Corp sees resistance in the March contract at 45.30 and 46.25 cents, with support at 44.65 and 43.50 cents.

Volume traded Thursday was at 9,035 lots, exchange data showed. Open interest in the cotton market was at 127,963 lots as of Dec. 18, from the previous 128,300 lots, it said.—Reuters